Canada's main stock index was little changed at the open on Friday, as gains in the energy sector offset weakness in mining shares, while Canada and China struck an initial trade deal that will slash tariffs on electric vehicles and canola.
The TSX index sagged 139.72 points to 32,889.20.
The Canadian dollar slipped 0.01 cents to 71.86 cents U.S.
ON BAYSTREET
The TSX Venture Exchange handed over 12 points, or 1.1%, to 1,074.54.
ON WALLSTREET
The S&P 500 was relatively unchanged on Friday as Wall Street attempted to end the week on a high note.
The Dow Jones Industrials dumped 100.49 points to 49,341.95
The much-broader index subtracted 6.36 points to 6,938.11.
The NASDAQ weakened 27.62 points to 23,502.48.
Nvidia traded more than 1% higher along with Tesla. IBM and Honeywell also rose around 2%, keeping the Dow’s losses in check.
For the week, the S&P 500 was headed for a 0.3% decline, a was the 30-stock Dow. The NASDAQ was down 0.4% on the week.
The major averages are coming off a winning session thanks to gains in chip stocks. Taiwan Semiconductor led the advance after a blowout fourth-quarter report. Further, the U.S. and Taiwan reached a trade agreement in which Taiwanese chip and tech companies will invest at least $250 billion in production capacity in America.
Investors are preparing to close out a hectic week. They’ve been grappling with a slate of headlines out of Washington, running the gamut from heightened geopolitical risk in Iran and Greenland to worries over threats to the Federal Reserve’s independence.
Prices for the 10-year Treasury inched up, lowering yields to 4.19%, from Thursday’s 4.17%. Treasury prices and yields move in opposite directions.
Oil prices gained 57 cents to $59.76 U.S. a barrel.
Gold prices unloaded $28.90 to $4,639.
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